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Fitch Ratings reels in expectations for Macau

Discussion in 'Casino Industry & Development' started by Mirageluvr, Sep 23, 2015.

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  1. Mirageluvr

    Mirageluvr Low-Roller

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    Looks like WYNN and LVS shareholders could be in for more choppy seas.

    Fitch Ratings reels in expectations for Macau
    Sep 23 2015, 09:03 ET | By: Clark Schultz, SA News Editor Contact this editor with comments or a news tip
    Fitch Ratings revises a forecast on 2015 Macau revenue to a 33%-34% decline, lower than its prior view for a 29% drop.The ratings agency weighed in on a number of factors in the region.New properties: Estimates on the impact of added capacity (2015-2016) are taken lower due to lowered expectations on traffic.Operating margins: Macau operators could get a lift as excess labor is shifted to new properties to help leverage some costs.Visa restrictions: The government's decision to loosen rules around visas will provide a positive benefit.2016: Flat revenue growth in Macau is expected by Fitch next year.Macau casino stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), MGM China (OTCPK:MCHVF, OTCPK:MCHVY), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Wynn Resorts (NASDAQ:WYNN), MGM Resorts (NYSE:MGM), Las Vegas Sands (NYSE:LVS).

    836 people have WYNMF in their portfolio
     
  2. Mirageluvr

    Mirageluvr Low-Roller

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    WYNN, LVS and MGM are getting slammed today on the Fitch revisions, or maybe it was the VMB degens taking it to Vegas over the last week. Congrats, guys and gals.

    :beer:
     
  3. Chuck2009x

    Chuck2009x VIP Whale

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    A few months ago we were talking about the casino stocks in another thread, and I was kinda cautioning about Wynn. With the cut div, I was gonna say I probably wouldn't touch it until $50, when it'll have (at least temporarily) a 4% yield, which is where it bottomed last time in 2012. But that sounded a little ludicrous at the time.

    It may get there, will be interesting to see. They still badly need the Chinese gov't to reverse course, but news like this makes it look like it's gonna go the other way.
     
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